Blackrock Drives Bitcoin ETF Inflows to $233M

Blackrock's dominance in the U.S. spot bitcoin ETF market continued on Thursday as its fund IBIT led $233.13 million into bitcoin ETFs, accounting for nearly four-fifths of the daily total.

The inflow is part of a two-day recovery for bitcoin ETFs, which had experienced two days of outflows prior to this.

Blackrock's IBIT has attracted about $350 million in net inflows during July, helping lead the category's recovery. However, that monthly gain remains small compared to the fund's reported outflows of $1.41 billion in May and $3.55 billion in June.

Other bitcoin funds also saw significant inflows on Thursday, including Bitwise's BITB with $20.74 million, Fidelity's FBTC with $15.50 million, and Morgan Stanley's MSBT with $7.42 million.